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A Colorado Home To Call Your Own |
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Approximately one-third or more of all people in Colorado rent their home, and that number has steadily increased over the past few years. With planning, the dream of homeownership is within reach of every first time home buyer. By owning your own home, you will make an investment for the future, put money into your pocket instead of your landlord's, gain a valuable tax deduction, and most importantly, have a home to call your own. |
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Is Buying Your First Home The Right Decision? |
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There are two very powerful incentives for a first time home buyer in Colorado: tax savings and equity build-up.
In Colorado, homeowners are allowed to deduct their mortgage interest and property tax payments from their taxable income*, giving a considerable savings.
Secondly, payments applied toward your mortgage principal help build equity in your home. It is also likely that your house will appreciate in value over the years you own it - also adding to your equity. *Consult your tax advisor. |
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Preparing For A Fist Time Home Purchase |
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A general rule of thumb is that you will qualify to finance a home that costs twice your annual income. Find out exactly how much home you can afford, how much you'll need to save for the downpayment, and other valuable information to help you prepare for new homeownership. Aoiding first time home buyer mistakes and unnecessary expenses. |
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Starting Your Colorado Home Search |
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To help you determine the amount of mortgage for which you may be approved, use our complimentary pre-approval process! By taking advantage of pre-qualifying, you can benefit from saved time (by narrowing the price range for your home search) and increased negotiation power (with a pre-approval in hand, the sellers will know they can expedite their home sale with a qualified borrower). |
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Many of these loans have special qualifying requirements, such as income limits, maximum loan amounts, designated geographic regions in which the property must be located, and/or a required homeownership education course. Compare Colorado first time home buyer programs that fit your down payment and closing budget. Get Quote! |
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